Flow Tape
The bid skewed bitcoin and skewed concentrated. Two funds accounted for roughly 98% of the day's net take, with FBTC's $102.3 million print marking its largest single-session inflow of the month and reversing the issuer-share pattern of recent weeks, when IBIT had been the dominant collector. The dispersion suggests fund-of-fund routing rather than a broad multi-issuer bid.
- FBTC (Fidelity, BTC): +$102.3M ↑
- IBIT (BlackRock, BTC): +$65.4M ↑
- MSBT (Morgan Stanley, BTC): +$6.7M ↑
Outflows were a rounding error against the headline figure. SOLT was the only product in the red.
- SOLT (Volatility Shares, SOL): -$3.7M ↓
7-Day Context
Trailing cumulative figures were not available at publication, with several settling days still incomplete. Tuesday's print extends a run of positive-flow sessions and is consistent with continued BTC-product demand, though the single-fund concentration in FBTC narrows the breadth of that bid.